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1. The Contractor and the Surety, jointly and severally, bind Owner shall be entitled to enforce any remedy available to the Owner. themselves, their heirs, executors. administrators. successors and 6. After the Owner has terminated the Contractor's right to complete assigns to the Owner for the performance of the Construction Corked, the Construction Contract, and If the Surety elects to act under w Lich is incorporated herein by reference. Subparagraph 4.1. 4.2, or 4.3 above, then the responstaties of the 2. If the Contractor performs the Construction Contract,the Surety and Surety to the Owner shall not be greater than those of the Contractor the Contractor shall have no obligation under this Bond, except to tinder the Construction Contract.and the responsibilities of the Owner to participate in conferences as provided in Subparagraph 3.1. the Surety shall not be greater than those of the Owner under the 3. If there is no Owner Default.the Suretys obligation under this Bond Construction Contract. To the limit of the amount of this Bond, but shall arise after. subject to commitment by the Owner of the Balance of the Contract Price 3.1. The Owner has notified the Contractor and the Surety at its to mitigation of costs and damages on the Construction Contract, the address described In Paragraph 10 below,that the Owner is Surety is obligated without duptic.ation for considering declaring a Contractor Default and has 6.1. The responslblr'Hes of the Contractor for correction of requested and attempted to arrange a conference with the defective work and completion of the Construction Contrail: Contractor and the Surety to be held not later than fifteen 6.2. Additonai legal, design professional and delay costs days after receipt of such notice to discuss methods of resulting from the Contractor's Default, and resulting from perforating the Construction Contract. If the Owner, the the actions or failure to act of the Surety under Paragraph 4: Contractor and the Surety agree. the Contractor shall be and allowed a reasonable time to perform the Construction 6.3. Lighted damages. or if no iquidated damages are Contract but such an agreement shall not waive the specified in the Construction Contract, actual damages Owner's right. If any,subsequently to declare a Contractor caused by delayed performance or non-performance of the Default: and Contractor. 3.2. The Owner has declared a Contractor Default and formally 7. The Surety shalt not be kettle to the Owner or others for oblgations terminated the Contractor's right to complete the contract. of the Contractor that are unrelated to the Construction Contract,and the Such Contractor Default shall not be declared earlier than Balance of the Contract Price shall not be reduced or set off on account twenty days after the Contractor and the Surety have of any such unrelated obligations. No right of action shall accrue on this received notice as provided in Subparagraph 3.1: and Bond to any person or entity otter than the Owner or its heirs.executors. 3.3. The Owner has agreed to pay the Balance of the Contract administrators,or successors. Price to the Surety In accordance with the terms of the 8. The Surety hereby waives notice of any change,inducting changes Construction Contract or to a contractor selected to perform of time,to the Construction Contract or to related subcontracts,purchase the Construction Contract in accordance with the terms of orders and other obligations. the contract with the Owner. 9. Any proceeding, legal or equitable, under this Bond may be 4. When the Owner has satisfied the conditions of Paragraph 3, the instituted in any court of competent jurisdiction in the location in which the Surety shall promptly and at the Surety's expense take one of the work or part of the work is located and shall be instituted whin two years following actions: after Contractor Default or within two years after the Contractor ceased 4.1. Mange for the Contractor, with consent of the Owner, to working or within two years after the Surety refuses or falls to perform Its perform and complete the Construction Contract: or obligations under this Bond,whichever occurs first. If the provisions of 4.2. Undertake to perform and complete the Construction imitation available to sureties as a defense in the jurisdiction of the stet Contract itself, through its agents or through independent shall be applicable. contractors: or 10. Notice to the Surety,the Owner or the Contractor shall be mailed or 4.3. Obtain bids or negotiated proposals from qualified delivered to the address shown on the signature page. ill contractors acceptable to the Owner for a contract for 11. When this Bond has been furnished to comply with a statutory or performance and completion of the Construction Contract, other legal requirement in the location where the construction was to be arrange for a contract to be prepared for execution by the performed, any proriaton In this Bond conflicting with said statutory or Owner and the contractor selected with the Owner's legal requirement shall be deemed deleted herein= and provisions concurrence,to be secured with performance and payment conforming to such statutory or other legal requirement shall be deemed bonds executed by a qualified surety equivalent to the bonds incorporated herein. The Intent Is that this Bond shall be construed as a issued on the Construction Contract,and pay to the Owner statutory bond and not as a common law bond. the amount of damages as described In Paragraph 6 in 12. Definitions. excess of the Balance of the Contract Price incurred by the 12.1. Balance of the Contract Price: The total amount payable by Owner resulting from the Contractor's default: or the Owner to the Contractor under the Construction Contract 4.4. Waive Its right to perform and complete, arrange for after all proper adjustments have been made, including completion,or obtain a new contractor and with reasonable allowance to the Contractor of any amounts received or to promptness under the circumstances: be received by the Owner in settlement of Insurance or other 1. After investigation, determine the amount for which it claims for damages to which the Contractor is entitled, may be liable to the Owner and,as soon as practicable reduced by all valid and proper payments made to or on after the amount Is determined, tender payment behalf of the Contractor under the Construction Contract. therefor to the Owner: or 12.2. Construction Contract The agreement between the Owner 2. Deny liability In whole or in part and notify the Owner and the Contractor identified on the signature page. citing reasons therefor. including at Contract Documents and changes thereto. 5. If the Surety does not proceed as provided In Paragraph 4 with 12.3. Contractor Default Failure of the Contractor, which has reasonable promptness,the Surety shall be deemed to be In default on neither been remedied nor waived,to perform or otherwise this Bond fifteen days after receipt of an additional written notice from the to comply with the terms of the Construction Contract. Owner to the Surety demanding that the Surety perform its obligations 12.4. Owner Default: Failure of the Owner, which has neither under this Bond,and the Owner shalt be entitled to enforce any remedy been remedied nor waived,to pay the Contractor as required available to the Owner. If the Surety proceeds as provided in by the Construction Contact or to perform and complete or Subparagraph 4.4, and the Owner refuses the payment tendered or the comply with the other terms thereof. Surety has denied liability, in whole or In part,without further notice the (FOR INFORMATION ONLY—Name,Address and Telephone) AGENT or BROKER: OWNER'S REPRESENTATIVE(Architect,Engineer or other party): Nielson, Hoover & Associates 8000 Governor Square Blvd., #101 Miami Lakes, FL 33016 (305) 722-2663 0 08112 00601-2 11-4179 EJCDC No.1910-28A(1984 Edition) Prepared through the joint efforts of the Surety Association of America,Engineers'Joint Contract Documents Committee,The Associated General Contractors of America,American Institute of Architects.American Subcontractors Association,and the Associated Specialty Contractors.